Allan Gray: Balanced Fund: Taking profits while navigating global opportunities

Loading player...
After a strong year for both local and global markets, many investors are sitting on meaningful gains- but may also be feeling unsure about what comes next. The Allan Gray Balanced Fund delivered an exceptional 24% return in 2025, well ahead of its long-term
average, supported by strong returns from precious metals, offshore assets and local bonds.

A key feature of the local market’s strength was its narrowness, and this is a source of concern, with performance driven by a handful of shares rather than broad-based gains. When markets deliver outsized gains, a key differentiator is behaviour: knowing when to hold steady, when to take profits and how to avoid emotional decision‑making.
27 Jan English South Africa Investing · Investing

Other recent episodes

Making Your Best Investment Ideas Count

Successful investing is not about being right on every call. It's about ensuring your winners have a meaningful impact while managing risk when things don't go according to plan. We speak to Mica Townsend from Allan Gray about conviction investing, portfolio construction, position sizing and the lessons investors can learn…
29 Sep 13 min

SA National Wills Week 2026: Allan Gray on your Will as your Legacy

Many South Africans know they need a will — but never get around to drafting one. As National Wills Week kicks off, Allan Gray’s Jaya Leibowitz explains why a valid, up‑to‑date will is essential, how to choose an executor, and what to consider when planning for your loved ones’ financial…
15 Sep 14 min

Allan Gray: Your Retirement, Your Choices: Making Sense Of The Options

It can be tempting to view retirement as a destination, but in reality, it is another stage in a much longer financial journey. The decisions made while saving for retirement – such as when you start investing, how consistently you contribute and not dipping into your savings along the way…
1 Sep 12 min

Why Strong Markets Can Hide Big Risks

Allan Gray’s Jeff Tshikhudo explains why investors often overlook risk when markets are rising — and how sectors like precious metals can swing from top performers to sudden laggards. A masterclass in diversification, discipline, and avoiding FOMO-driven decisions.
18 Aug 12 min

Long-Term Investing in a Short-Term World: Allan Gray on Staying the Course

In a world driven by instant news and rapid market reactions, long-term investing can feel counterintuitive. Allan Gray’s Mthobisi Mthimkhulu explains why patience, discipline and diversification remain essential for wealth creation. He breaks down the “behaviour gap,” the risks of emotional decision-making, and how investors can avoid missing out on…
4 Aug 16 min